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FinancialOxygen adds Fed Funds and Eurodollars

28 March 2002  |  612 views  |  0 online bid

FinancialOxygen has launched a new online exchange enabling major banks, dealers and other financial institutions to trade Fed Funds and Eurodollars.

The new DealerOxygen trading platform streamlines trading through an electronic system that not only matches the best bid and offer, but also electronically captures transaction data and facilitates straight-through processing to each institution's system of record.

The Internet-based platform enables traders to see the complete Fed Funds and Eurodollar markets - both bid and ask - by size in one location. Participants can also view trade history online. Traders can then execute with multiple counter-parties in seconds, from their desktop computer.

DealerOxygen currently has about 50 participating institutions, including seven of the top 10 US banks.

Robert Oxenburgh, chief executive officer of FinancialOxygen, claims: "DealerOxygen will fundamentally change the trading of Federal Funds and Eurodollars by lowering transaction costs, introducing transparency, and increasing speed of trade execution and processing."

He adds: "DealerOxygen is a natural extension of our technology platform and is consistent with our strategic objective of offering multiple distribution channels to financial institutions."

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